Major

2024

Verge

Read

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Data shared by the popular tracking platform Shibburn has revealed that the SHIB burn rate has shown an impressive 108% rise recently. However, there is a catch in this good news, despite nearly 100 million SHIB <a href="https://u.today/shib-inferno-index-shoots-up-232-price-reacts-unexpectedly" rel="noopener noreferrer nofollow">meme coins being torched</a> in total.
This has coincided with several consecutive attempts to break out recently. Over the last day, SHIB has attempted to pare its recent losses and rose by less than 2%. The overall price surge since Friday constitutes 3.15%.
<h2 id="weekly-burns-spike-108">Weekly burns spike 108%</h2>
Per a recent tweet published by Shibburn, the weekly burn rate of the second largest meme cryptocurrency, SHIB, has demonstrated a massive surge of 108.73%. Over the last seven days, a substantial amount of 95,442,500 SHIB has been transferred to unspendable blockchain addresses.
Meanwhile, the daily burn rate has not been doing so well, as it is down 74.88% in the red zone with an almost tenfold smaller outcome - 9,762,549 SHIB destroyed.
<blockquote class="twitter-tweet">
 HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> Price: $0.00001712 (1hr 0.20% ▲ | 24hr 0.83% ▲ )Market Cap: $10,075,404,437 (0.75% ▲)Total Supply: 589,268,689,236,397TOKENS BURNTPast 24Hrs: 9,762,549 (-74.88% ▼)Past 7 Days: 95,442,500 (108.73% ▲)— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1850885276832325866?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 28, 2024</a>
</blockquote>
According to figures shown by the Shibburn website, there has been only one burn transfer today so far. On Sunday, there was also just a single transaction, which moved 16,402,650 SHIB to a dead-end wallet.
As reported by U.Today, last Friday, this SHIB metric witnessed a <a href="https://u.today/shib-burns-skyrocket-65529-heres-how-much-shib-set-on-fire" rel="noopener noreferrer nofollow">jaw-dropping increase of 65,529.67%</a>. <a href="https://u.today/shib-burns-jump-108-with-price-on-verge-of-breakout-heres-major-nuance" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

SHIB Burns Jump 108% With Price on Verge of Breakout – Here's Major Nuance

Table of Contents

U_Today

Other articles published on Oct 28, 2024

Lawyer Confirms: XRP Future Still Uncertain At State Level

Bitcoin Surges Past $70,000 as Investors Anticipate Growth

CAT weekly gains surpass 37% as a bullish pattern forms on its daily chart

Pepe Coin Whale offloaded over 1 trillion PEPE to Binance exchange

MakerDAO May Return as Core Brand After Sky Rebrand Faces Backlash

Canary Capital Submits Landmark S-1 Filing for Litecoin ETF with SEC

Join our free newsletter for daily crypto updates!